Ted Pillrose: bitcoin will fall to $ 92,000

The price of bitcoin BTC $103,409.00 Mezo Wrapped BTC 0.14% Market capitalization $54.21 million VOL. 24 hours $5.15 billion has fallen below $ 102,000, which, according to analyst Ted Pillows, opens the way to the next target of $ 92,000. According to him, «bitcoin is in a free-fall state, and there is no significant support before $ 100,000, so the coin may soon test this level.»

Pillows drew attention to the unfilled price gap in CME Group futures near $ 92,000, which coincides with the opening price of the year. If BTC does not stay above $ 100,000, a correction to this zone is likely. Another trader, Daan Crypto Trades, noted that the BTC/USD pair has lost its main support, which had been in place for several weeks. He added that sales by large holders are increasing, and the US stock market looks unstable amid a stronger dollar.

Trader Ardi believes that it is likely that the lows of October 11 near $ 102,000 will be tested, where the 50-week EMA is a key technical level that the price has not touched in seven months. According to 10x Research, if BTC falls below $ 100,000, a further correction to $ 85,000 is possible.

According to Glassnode, the NUPL indicator for short-term investors has moved into the surrender zone. Over the past day alone, traders who have been holding bitcoin for less than three months have sold about 28,600 BTC at a loss of $ 2.9 billion.

Analysts at XWIN Research Japan note that the situation is complicated by the US government’s shutdown, which is in its second month and is leading to a reduction in liquidity. At the same time, BTC reserves on exchanges are growing, which signals preparations for profit-taking or risk reduction. According to the researchers, the current phase is not just a technical correction, but a «fundamental test of investor resilience and market liquidity.»